Whales Dump Melania Memecoin At Heavy Losses As Market Meltdown Wipes Out $12 Billion In Investor Wealth

Large investors were dumping Official Melania MELANIA/USD at massive losses, as the meme coin launched by First Lady Melania Trump traded 93% below its all-time high.

What happened: Two notable loss-making whale transactions were discovered by on-chain data tracking firm Lookonchain on Tuesday

One of the investors purchased 13.97 million MELANIA tokens for 30 million USD Coin USDC/USD a month ago, only to sell the stash for 14.32 million USDC on Monday, experiencing a loss of $15.68 million.

The other whale bagged 6.69 million MELANIAs for 10 million USDC more than three weeks ago and sold them for 6.27 million USDC over the past two days, losing $3.73 million.

The sell-offs by whales, known for being large hoarders of cryptocurrencies, suggested a weaker long-term sentiment and a bearish forecast for the meme coin.

Whales sold all their $MELANIA holdings at a loss recently!

DNTpoX…LN2A spent 30M $USDC to buy 13.97M $MELANIA a month ago, and sold for 14.32M $USDC yesterday, losing $15.68M.

Gu2bnm…xmni spent 10M $USDC to buy 6.69M $MELANIA 22 days ago, and sold 6.27M $USDC in the past 2… pic.twitter.com/jAK6t6rJhy
— Lookonchain (@lookonchain) February 26, 2025

Price Action: At the time of writing, MELANIA traded at $0.9210, down 0.59% in the last 24 hours and over 93% since the top of $13.73 shortly after its launch last month, according to data from Benzinga Pro.

Just for additional context, about $12.8 billion worth of the coin's fully diluted capitalization has been eroded since the peak.

Why It Matters: The Solana SOL/USD-based meme coin was launched just before President Donald Trump's presidential inauguration, much like the Official Trump TRUMP/USD token.

TRUMP has also witnessed a sharp drawdown, plummeting 82% from its record highs.

MELANIA was drawn into a larger controversy when on-chain sleuths alleged a potential link between the token's creators and the scam-tainted LIBRA meme coin promoted by Argentine President Javier Milei.

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